6/16/2010 11:59:50 AM
6/16/2010 11:59:50 AM
City of Clive
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RESOLUTION N0. 22 <br /> RESOLUTION ELECTING THE FORM OF PARTICIPATION <br /> IN THE I.C.A. THIRD PHASE FINANCING PLAN <br /> WHEREAS, Section 5 of the I.G.A. Agreement, Sections 3, 4 and <br /> 5 of the First Supplement to the I.C.A. Agreement, and Section 3 <br /> of the Second Supplement to the I.C.A. Agreement (collectively, <br /> the "I.C.A. Agreements permit the City of Des Moines, as the <br /> Operating Agency of the I.C.A., to issue general obligation or <br /> revenue bonds to be retired from system revenues to finance design <br /> and /or construction of the several Phases and Segments of the I.C.A. <br /> Facilities Plan, with each subscribing member thereof, upon request <br /> by the City of Des Moines as Operating Agency, being permitted the <br /> option of electing to furnish cash contributions by a date certain <br /> as to each such issue in lieu of debt service payments during the <br /> life of such issue, which includes an option in the subscribing <br /> members to raise such cash contributions by issuing their own bonds: <br /> and <br /> WHEREAS, the City of Des Moines as the Operating Agency did on <br /> December 22, 1986, following public hearing, resolve to issue not <br /> to exceed $47,000,000 in aggregate principal amount of its Sewer <br /> Revenue Bonds to finance design and construction of certain segments <br /> of certain Phases of said Project, all as detailed and specified in <br /> the I.C.A. Third Phase Financing Plan attached to this Resolution; <br /> and <br /> WHEREAS, each subscribing I.C.A. member, including the City of <br /> Cline in its capacity as such, must now respond to the request of <br /> the City of Des Moines as Operating Agency and elect as between the <br /> aforesaid options set forth in said I.C.A. Third Phase Financing <br /> Plan; and <br /> WHEREAS, that notice be given to the City of bees Moines as the otier- <br /> sting agency: by mail or hand: delivery thereof on.0r before <br /> 1987 of its election thereunder to select an option unde <br /> NOW, THEREFORE, BE IT RESOLVED by the Governing Body of Clive. <br /> Iowa: <br /> 1B. Option 2. As a subscribing member of the I.C.A., the City <br /> of Clive does hereby acknowledge the request of the City of Des Moines <br /> and elects to be governed in the implementation of the I.C.A. Third <br /> Phase Financing Plan by Option 2 thereof, providing for a $1,031,778 <br /> (2.46%) cash contribution of its share of costs to the City of Des <br /> Moines under such I.C.A. Third'Phase Financing Plan, and does hereby <br /> authorize and direct the Mayor to execute the attached Financing <br /> Agreement, the City Clerk to attest the same, and does hereby direct <br />
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